00:00This is the beginning of a Russian invasion of Ukraine, as he indicated and asked permission to be able to
00:06do from his Duma.
00:07So let's begin to, so I'm going to begin to impose sanctions in response far beyond the steps we and
00:16our allies and partners implemented in 2014.
00:19We're implementing full blocking sanctions on two large Russian financial institutions, VEB and their military bank.
00:28We're implementing comprehensive sanctions on Russia's sovereign debt.
00:32That means we've cut off Russia's government from Western financing.
00:37It can no longer raise money from the West and cannot trade in its new debt on our markets or
00:44European markets either.
00:46Starting tomorrow and continuing in the days ahead, we'll also impose sanctions on Russia's elites and their family members.
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